Faculty & Staff

Benefits

• 2012 Open Enrollment
• Health Insurance 2011/2012
  • Anthem 300
  • Anthem 500
  • Anthem Lumenos CDHP/HSA
  • Welborn
  • Provider Contacts
• Health Reform 2011
• Benefit Forms
• Other Insurance Benefits
  • Dental Insurance
  • Vision Insurance
  • Flexible Spending Accounts
  • Long-Term Disability
  • Short-Term Disability
  • Group Life Insurance
  • Voluntary Life Insurance
  • Provider Contacts
• Employee Wellness Programs
  • Time to Get Fit
  • Anthem Wellness
• Additional Benefits
  • Paid Time Off
  • Leaves of Absence (FMLA, Personal)
  • Worker's Compensation
  • Retirement Savings Plan
  • Employee Assistance Program
  • Work-Life Resources
  • 2012 Summer Flex Program

Resources

Policies

Human Resources

Retirement Savings Plans

Support Staff Employees

Public Employees Retirement Fund (PERF) - website
Support staff members in eliglible positions may participate upon employment in the Indiana Public Employee's Retirement Fund. For fiscal year 2011-2012, the University contributes 8.6% of the employee's gross earnings towards a pension and 3% towards an annuity savings account, for a total contribution of 11.6% into the Indiana Public Employee's retirement Fund. Click here for your PERF Member Handbook. Vested status in the Public Employees’ Retirement Fund means you have at least ten (10) years of creditable service in PERF-covered employment. You will be entitled to full pension benefits when you meet these ages and service requirements:

• Age sixty-five (65) with ten (10) years of creditable service,
• Age sixty (60) with fifteen (15) years of creditable service

Faculty and Administrative Employees

TIAA-CREF - website
Eligible faculty and administrators may participate after one year of employment. If you have been a member of a university-sponsored retirement plan or TIAA/CREF for at least one year, the waiting period may be waived. The University contributes the total premium: 11% of annual salary up to $10,800 and 15% of annual salary over $10,800.

Supplemental Retirement Plan
All full-time and part-time employees are eligible to enroll in this plan. This plan is used to defer your income on a pre-tax basis for retirement savings purposes. To enroll, complete the Voluntary Salary Deferral Form and submit it to Human Resources.  You will then need to set up an account online with TIAA-CREF.  There is no waiting period.

Annual Contribution Limits
On October 20, 2011, the Internal Revenue Service announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2012. See the chart below for further details.

Social Security Administration
A system administered by the federal government through the Social Security Administration providing old age, survivor's disability, and retirement benefits. The cost is shared by the University and the employee. Effective January 1, 2010: 6.2% of salary up to $106,800 for old age, survivor's, and disability insurance, and 1.45% of all covered wages for Medicare hospital insurance.

Employees are strongly encouraged to request a Social Security Personal Earnings and Benefit Estimate Statement (PEBES). The PEBES is a statement of a person's lifetime earnings and an estimate of future benefits. There is no cost to secure this statement and you do not need to be approaching retirement age; any individual who has paid any social security taxes during his/her working career may request a statement at any time.